TransUnion Adds RentBureau Data to Rental Screening Solutions

By Erika Schnitzer, Associate EditorChicago—TransUnion announced that it has integrated RentBureau’s data into its rental-screening platform, joining other resident screening companies that have become RentBueau Data Illuminated by gathering as much up-to-date and accurate information on potential residents as possible.“From the multifamily angle, we provide our data and our score to TransUnion customers to better evaluate applicants that come in, identifying applicants that are more risky. That translates to significant savings,” explains Eric Hartz, president and CEO of RentBureau.RentBureau’s database collects rental payment histories every 24 hours from its national network of property owners and managers, which currently includes nearly six million records nationwide. Members of the network provide their lease data to RentBureau directly from any property management software. In return, members receive immediate, centrally stored, integrated verification of new applicants’ payment history as part of their existing screening services. By adding RentBureau rental history data into its platform, TransUnion will be able to offer its property management customers a more complete information to identify, attract and select residents.Today’s market has produced more risky applicants, and property managers need to attract as many well-qualified renters as possible, Hartz tells MHN. By providing a more complete screen of potential residents, this integration helps property managers “reduce expenses and increase revenue” by gathering the information necessary to make a more accurate decision on whether or not to accept an applicant.The RentBureau integration also helps prospective renters, as it harnesses positive rental history data to help residents build credit. By using RentBureau’s rental history data, property managers can select responsible applicants based on past rental behavior, and renters who have little or no credit can build good credit through responsible renting.  This is particularly important in today’s economy, since the system can help “people who have been foreclosed upon and may have some debt but are still good renters,” notes Hartz. “It helps the multifamily industry identify those people facing challenges.”In addition to providing rental information to TransUnion, RentBureau will also provide its Rentpredict score, which the company uses to predict how a person will pay rent.